OpenText is an enterprise software company focused on information management (IM) for large organizations. Its core products help enterprises capture, store, manage, search, and secure unstructured content — contracts, invoices, emails, and documents — and integrate that content into business processes. OpenText organizes its products across six "clouds": Content Cloud (~40% of revenue), covering document and records management, intelligent capture, e-signatures, and archiving; Cybersecurity Cloud (~25%), covering endpoint protection, email security, identity management, and application security; and four smaller clouds covering supply chain B2B integration, DevOps, IT service management, and analytics. OpenText primarily sells directly to large enterprises — targeting the world's largest companies and governments — and reaches the SMB market through a network of roughly 24,000 managed service providers. Revenue is predominantly recurring (~82% ARR), split between cloud subscriptions (~37%) and high-margin maintenance contracts on perpetual licenses (~45%). The company's growth strategy centers on migrating its ~120,000 installed enterprise customers to its next-generation cloud platform, Titanium X, while embedding AI agents ("Aviators") across its product suite to automate content-intensive workflows. OpenText built much of its scale through M&A, most notably the $6.2B acquisition of Micro Focus in 2023, and has deployed roughly $11.8B on acquisitions over the past decade, offsetting leverage with strong free cash flow generation.